Business
Alter NRG Corp. sells five technology site licenses to PGPT for Czech Republic and Slovakia for $4.375 million
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About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nTSX -\n NRG                                                                                                           OTCQX - ANRGF\n\n\nCALGARY, June 25, 2012 /CNW/ - Alter NRG (\"Alter NRG\" or the \"Company\")\n is pleased to announce it has sold five technology site licenses to PGP\n Terminal a.s. (\"PGPT\").  Under the terms of the deal, PGPT has an\n option to purchase three more site licenses within twelve months.  All\n eight licenses provide guaranteed access for PGPT to Alter NRG's plasma\n gasification technology for projects that can be located anywhere in\n the Czech Republic or Slovakia.\n\n\nUnder Alter NRG's standard licensing terms, PGPT has paid the first\n partial payment for each license totaling $437,500.  The remaining\n amounts on each of the site licenses are paid to Alter as Alter\n completes engineering, delivers plasma gasification equipment and\n assists PGPT during the commissioning for each project, all under\n additional separate contracts. The total value of the first 5 license\n agreements is $4.375 million.\n\n\nWalt Howard, Alter NRG's CEO, states \"We are delighted to add PGPT, a\n well qualified and funded investor and developer, as a customer.  After\n working with the PGPT team for over a year now, it is clear they know\n the Czech and Slovak markets and they have the ability to quickly\n develop projects\".\n\n\nPetr Brenek, Chairman of PGPT, stated \"We have over ten plasma\n gasification projects in our pipeline.  After completing our due\n diligence on the technologies available in the market place that can\n help PGPT deliver on its business plan, and based on the Slovak and\n Czech legislative concepts supporting the utilization of municipal\n solid waste and other feedstock for energy production, we chose Alter\n NRG and i...